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How much do Gastroenterologist’s End up Spending in Order to Get Paid?

March 02, 2013

Most gastroenterology practices these days are spending increasing amount of their time and revenue on clerical tasks to enable being reimbursed on time by their payers.

As different insurers use varied rules for processing and paying medical claims there is confusion and inconsistency amidst most providers, with most diverting large portions of their income on administrative tasks in order to be reimbursed appropriately.

Industry standards state

A recent study last year depicted that nearly 1/3rd of gastroenterologists spend 10-14 hours per week, while 29% spend 5-9 hours per week on paperwork and administrative tasks

A minimum of 20 hours per week is spent by approximately 14% of gastroenterologists on administrative chores

To ensure accurate payments from payers physicians redirect nearly 14% of their revenue on administrative activities required by health plans

Moreover according to a recent study a physician’s time spent on health insurer “red tape” can easily add up to nearly 3 weeks!

Gastroenterologist’s amidst increasing administrative tasks

Different insurers using different rules cause complexity, confusion and waste, hence standardized processing and payments are essential in order to reduce the administrative burden on Gastroenterology practices

Gastroenterology practices currently bear unnecessary costs as they need to maintain a costly claims management system for each health insurer

Nearly one in every five medical claims processed by insurers has errors which lead to high administrative costs for both physicians and insurers

In this scenario until a single transparent set of processing and payment rules for the health insurance are created Gastroenterology practices may immensely benefit by outsourcing their medical billing to a specialist and can direct their time and resources to patient care rather than on excessive paperwork.

MBC’s experts help our client get paid on time, reducing their AR days with the following-

Certified coders – with enough experience in handling medical claims, our medical coders can help reduce time and efforts taken in filing claims hence reducing days in AR

Accuracy & Quality– our medical billing experts ensure that all the claims are complete and accuratehence enhancing payments from payers

Timely Processing and Submission of Claims - our billers and coders file claims on time to ensure timely processing and submission of claims especially as normallyinsurers’ response time to a claim varies from 5 to 13 median days

Accurate Follow-ups - we make surecorrect follow-ups are carried out which helps identify partially paid or unpaid claims and eventually helps procuring majority of the claims filed

Report Generation – regularreports help to monitor and analyze the quality of service and also provides vital information which helps in the eventual improvement of our clients RCM process

MBC the largest consortium of medical billers and coders all 50 US states serving healthcare for over a decade now is constantly working on satisfying our clients by improving their revenue flow.

We alsoprovide numerous lateral services which include medical coding, data entry and transcription service, consultancy and so on for all specialties including gastroenterology billing. No matter what type of medical billing service you require, MBC medical billing will competently endeavor to meet your needs.

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Medical Billers and Coders is the largest consortium in the United States. We can help you save 35% of your cost in medical billing services and reduce your Account Receivables (AR) days to an average of 21 days.

Recruitment

The impending transition to ICD-10, one of the most crucial changes in healthcare, the new coding system is here. MBC’s professional services in ICD-10 can help you with end-to-end solutions for a successful implementation.